DEPARTMENT: Planning & Community Development
DEPARTMENT HEAD: Bridgett White, Director
COUNCIL DISTRICTS IMPACTED: 2 & 10
SUBJECT:
Public Hearing and Consideration of an Ordinance amending the boundary of the Northeast Corridor Tax Increment Reinvestment Zone (TIRZ) #33, by adding approximately 595 parcel acres to further economic development opportunities within the zone.
SUMMARY:
Consideration of an Ordinance amending the Northeast Corridor TIRZ boundary. The boundary amendment will increase the size of the Northeast Corridor TIRZ by approximately 595 parcel acres.
BACKGROUND INFORMATION:
The City Council designated the Northeast Corridor TIRZ #33 on December 4, 2014 to further economic development opportunities along the Perrin Beitel and Nacogdoches corridors. Since then, the City staff has received inquiries regarding increasing the Northeast Corridor TIRZ boundary in anticipation of economic development opportunities within the zone. On October 27, 2016, the Northeast Corridor TIRZ Board met and approved the boundary amendment.
The Northeast Corridor TIRZ is located in City Council Districts 2 and 10. The boundary is generally along both sides of Perrin Beitel Road north of Loop 410 to Thousand Oaks road then continues to the northeast along both sides of Nacogdoches to O'Conner road. The western portion of the boundary extends southwest from the intersection of Perrin Beitel and Naco-Perrin Boulevard along both sides of Naco-Perrin to approximately Wurzbach Parkway then heads to the northwest along the northern edge of Wurzbach Parkway to Wetmore Road. At the intersection of Wurzbach and Wetmore, the boundary heads northeast along the southern edge of Wetmore to Thousand Oaks then follows the southern edge of Thousand Oaks back to Nacogdoches road. (see attached maps)
ISSUE:
In accordance with Chapter 311 of the Tax Code, the "TIF Act", the boundaries of an existing reinvestment zone may be reduced or enlarged by ordinance or resolution o...
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